Since 2012, Cohn & Wolfe has studied authenticity as a guiding principle and business practice. Each year, our research reveals more insight on the strategic power of authenticity and its unique opportunity to build reputation.
Cohn & Wolfe has discovered a huge authenticity gap in the eyes of global consumers. With 75 percent of consumers surveyed in 14 markets believing that companies are not open and transparent, it’s clear that brands have a credibility problem.
Our 2016 findings reveal that cynicism towards brands is highest among Western European countries, while high growth / low per capita GDP countries recognize authenticity in brands the most.
Across global markets, approximately one in five consumers finds brands “Open and Honest.” At 23 percent, the US places just above the global average. In Western Europe, a mere 5 percent of consumers in Sweden consider companies “Open and Honest,” while the UK, France, Germany and Spain all match the same low level at 7 percent.
Brazil, while generally higher than Western Europe, is still lower than the US at 19 percent.
Even in China and Indonesia, where consumers are least pessimistic about brand authenticity, only about a third of the population (36 percent and 35 percent, respectively) consider companies “Open and Honest.”
The opportunity for businesses to close this gap is staggering....
Interesting report by Cohn & Wolfe provides insight into consumer views of authenticity, global brands and what brands might do to close the gap in the future. Recommended reading. 9/10